EnLink Midstream Partners (ENLK) Receives New Coverage from Analysts at Credit Suisse Group

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Analysts at Credit Suisse Group began coverage on shares of EnLink Midstream Partners (NYSE:ENLK) in a report released on Thursday, The Fly reports. The brokerage set an “underperform” rating and a $17.00 price target on the oil and gas producer’s stock. Credit Suisse Group’s price objective would suggest a potential downside of 9.77% from the stock’s current price.

Several other research firms have also recently issued reports on ENLK. TheStreet raised shares of EnLink Midstream Partners from a “c+” rating to a “b-” rating in a report on Thursday, August 30th. Zacks Investment Research raised shares of EnLink Midstream Partners from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Wednesday, September 26th. ValuEngine raised shares of EnLink Midstream Partners from a “hold” rating to a “buy” rating in a report on Friday, September 7th. Stifel Nicolaus raised shares of EnLink Midstream Partners from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Thursday, August 2nd. Finally, Barclays upped their price target on shares of EnLink Midstream Partners from $16.00 to $19.00 and gave the company a “hold” rating in a report on Wednesday, August 29th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. EnLink Midstream Partners presently has a consensus rating of “Hold” and a consensus price target of $17.46.

Shares of ENLK stock opened at $18.84 on Thursday. The firm has a market capitalization of $6.53 billion, a PE ratio of 628.00 and a beta of 2.28. The company has a quick ratio of 0.64, a current ratio of 0.72 and a debt-to-equity ratio of 1.05. EnLink Midstream Partners has a twelve month low of $12.75 and a twelve month high of $19.45.

EnLink Midstream Partners (NYSE:ENLK) last announced its earnings results on Tuesday, July 31st. The oil and gas producer reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.09. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.74 billion. EnLink Midstream Partners had a net margin of 3.89% and a return on equity of 6.41%. The business’s quarterly revenue was up 39.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.03 earnings per share. On average, research analysts predict that EnLink Midstream Partners will post 0.44 EPS for the current year.

In other EnLink Midstream Partners news, EVP Alaina K. Brooks sold 55,619 shares of the stock in a transaction on Monday, August 6th. The shares were sold at an average price of $17.65, for a total transaction of $981,675.35. Following the sale, the executive vice president now directly owns 80,648 shares of the company’s stock, valued at $1,423,437.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Goldman Sachs Group Inc bought 91,538 shares of the company’s stock in a transaction on Thursday, August 23rd. The shares were acquired at an average cost of $18.52 per share, for a total transaction of $1,695,283.76. The disclosure for this purchase can be found here. Corporate insiders own 0.17% of the company’s stock.

Several large investors have recently modified their holdings of ENLK. Wells Fargo & Company MN raised its holdings in shares of EnLink Midstream Partners by 38.4% during the first quarter. Wells Fargo & Company MN now owns 162,414 shares of the oil and gas producer’s stock worth $2,218,000 after purchasing an additional 45,094 shares during the period. Kayne Anderson Capital Advisors LP raised its holdings in shares of EnLink Midstream Partners by 4.0% during the first quarter. Kayne Anderson Capital Advisors LP now owns 4,894,608 shares of the oil and gas producer’s stock worth $66,860,000 after purchasing an additional 187,200 shares during the period. BlackRock Inc. raised its holdings in shares of EnLink Midstream Partners by 0.8% during the first quarter. BlackRock Inc. now owns 526,761 shares of the oil and gas producer’s stock worth $7,196,000 after purchasing an additional 4,074 shares during the period. California Public Employees Retirement System grew its position in shares of EnLink Midstream Partners by 56.5% during the first quarter. California Public Employees Retirement System now owns 279,409 shares of the oil and gas producer’s stock worth $3,817,000 after acquiring an additional 100,875 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of EnLink Midstream Partners by 5.1% during the first quarter. PNC Financial Services Group Inc. now owns 159,006 shares of the oil and gas producer’s stock worth $2,173,000 after acquiring an additional 7,705 shares during the last quarter. 41.26% of the stock is currently owned by institutional investors.

EnLink Midstream Partners Company Profile

EnLink Midstream Partners, LP, through its subsidiary, EnLink Midstream Operating, LP, provides midstream energy services. It operates through Texas, Oklahoma, Louisiana, Crude and Condensate, and Corporate segments. The company provides gathering, transmission, processing, fractionation, storage, condensate stabilization, brine, and marketing services to producers of natural gas, natural gas liquids (NGL), crude oil, and condensate.

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